By choosing to invest through Squirrel, thousands of Kiwi have built something remarkable – with over $500 million invested 🎉. That collective effort is funding real loans, creating more choice in the market and keeping competitors on their toes – it's a milestone that reflects the trust investors have placed in Squirrel to help make it happen.
Investing activity across Squirrel's suite of products continues to grow strongly. Over the last 12 months, investors have placed an average of $35m in new investments each month, peaking at $50 million in a single month. That’s up about 40% on last year. Right now, it’s taking about 10 days to get home loan and construction term investments placed. With a healthy pipeline of loan settlements this month, we expect that to stay the same or improve soon.
The health of the loan portfolio continues to roll along nicely, even with the economic clouds hanging about. Our credit team is doing the hard yards, keeping things steady and helping borrowers through any tricky spots.
Meanwhile, the introduction of the new Deposit Compensation Scheme (DCS) has prompted some investors to reconsider how they spread their funds. We’ve seen a few spreading their deposits further – which makes sense when you’re looking to keep things balanced and make the most of the DCS.